Hi my father is getting on in years & while currently able to manage his finances we have discussed whether it would be worthwhile having me(son) as a joint account holder.Are there any tax implications for me as a result ?
I would be a joint signatory on account but transactions would not require both signatures (I will have power of attorney)
money in a/c at death will be governed by his will
Should be no tax issue as the funds are not being transferred to you! This is a regular occurrence in banking where a son or daughter becomes a joint signatory on the account of an elderly parent.